Cook: Apple
doesn't have depression era mentality. Apple makes bold product
bets. Last year $10 billion CapEx, do the same this year,
investing in R&D, new products, supply chain, we're acquiring
some companies. I think it's hard ... or at least my definition
wouldn't include investing a pair of 10s over two years, and $45
billion back to shareholders, I don't know how a company with
despression era mindset would have done all those things.

Now, we do have some cash, but it's a privlige to be in this
position. That we can seriously consider returning additional
cash to our sharholders. Management team and the board in very
active discussion, we will do so thoughtfully.

And more on the lawsuit...

Cook: It centers on Prop 2. Right of shareholders. It's not about
whether returns additional cash to sharholders, not about how
much to return to shareholders, not about mechanism to return it,
it's about the right of shareholders. In 2012, we were looking at
what we could do to improve goverence, one item that came out was
we should eliminate a blank check preferred. Not that Apple can
release preferred, but if we do it we need to go to our common
shareholders.

Frankly, I find it bizarre that we would be sue for doing
something that would be good for shareholders. It's a silly
sideshow.

Continued...

You're not going to see a yes on 2 sign in my front yard. It's a
waste of shareholder money.

I support prop 2, I think it's the right thing for shareholders
to have the right on this, I encourage others to vote on it. but,
it's not something we're going to spend cycles on.

The serious thing is the return of cash, how to do it, and we're
serious about that.

Prop 2 a silly sideshow. We feel so strongly that for Apple that
shareholders should approve an issuance of preferred stock that
common shareholders, we would go for a vote regardless. That's
the way I see it.